Amazon Expands in Bengaluru with 1.1 Million Sq Ft New Office Space
- Industry News
- June 20, 2024
Amid U.S.-China trade tensions and falling rents, Asia-Pacific office tenants favour flexible workspaces and short-term leases. Landlords prioritise tenant retention, while markets like India and Southeast Asia show resilience. Hong Kong remains the priciest despite a prolonged slump, with regional office supply expected to rise further.
READ MOREOffice space demand across Asia Pacific surged 15.9% to 8.8 million sqm in 2024, driven by corporate expansion, return-to-office trends, and global capability centres. India led in new supply, while overall vacancy remained stable. Colliers predicts continued growth and resilience in the APAC office leasing market in 2025.
READ MOREMumbai and New Delhi rank 5th and 8th in CBRE’s 2025 APAC Investor Intentions Survey, highlighting India’s rising real estate appeal. Foreign investments hit $11.4 billion in 2024, with Singapore leading. Investors prioritise office spaces, data centres, and ESG projects, signalling strong growth in India’s commercial real estate sector.
READ MOREWhat are the “hottest” markets for flex in APAC? The Instant Group analysed the top 10 markets for flexible office spaces in 2024, examining year-over-year fluctuations in demand, with data revealing notable demand spikes in Bangalore, Makati, and Hong Kong.
READ MOREIndia leads the Asia-Pacific office market, driving over 70% of Q3 2024 leasing demand, fueled by a 10.7% YoY surge in regional activity. With rising rental rates, robust absorption in Bengaluru and Hyderabad, and 1.34 million square meters of new completions, India cements its position as the APAC market leader for 2025.
READ MOREIndia now leads the Asia-Pacific office market, capturing 70% of new office space supply with over 14.4 million sq ft completed in Q3. Driven by strong demand, India’s office sector will add 54-64 million sq ft of Grade A space in 2024, reinforcing its APAC market prominence.
READ MORE